Ordinarily, the IRS considers forgiven debt a form of income, which it is. In 2007 Congress passed the Mortgage Foreclosure Debt Forgiveness Act which allowed borrowers who short sell their houses to avoid taxation on forgiven… – Flippers rip off lenders through short sales

FHA mortgage insurance is expensive, and it’s difficult to get rid of.

We are at record low interest rates, so in all likelihood, mortgage rates will go higher from here. Although it may be possible to refinance later to eliminate the insurance premium, it may not be advantageous if… – How to eliminate expensive FHA insurance fees